One important area of the global economy is the defence industry, which produces and markets military hardware and weaponry to governments and their armed forces. The United States leads the industry, which is controlled by a small number of powerful multinational companies. The following are some salient features of the global defence industry:
Worldwide Revenue: With an average sales rise of 7.1%, the worldwide defence industry brought in $485,508 million in 2021.
Arms Exports: With 76% of all arms exports in 2018–2022, the top five countries in the world are the United States, Russia, France, China, and Germany.

Small Arms Trade: According to the Small Arms Survey, over 1,000 businesses from almost 100 nations create the 875 million small arms that are in circulation globally.
Industry Development: The establishment and growth of the first sizable military-industrial firms resulted in the modern weapons industry’s emergence in the latter half of the 1800s.